CMS has advised Central European Petroleum on the development of the Wolin East project, following CEP’s announcement of a discovery of oil and gas reserves in the Wolin East 1 well, located on Polish territory in the Baltic Sea.
According to CMS, the project includes both onshore and offshore exploration in areas that are highly sensitive from environmental, military, and navigational perspectives.
The firm added that the discovery includes an estimated 22 million tons of recoverable crude oil and condensate and 5 billion cubic meters of commercial gas, with the broader Wolin licence area estimated to hold up to 33 million tons of oil and 27 billion cubic meters of gas.
The CMS team included Partners Tomasz Minkiewicz and Lukasz Szatkowski, Counsels Wojciech Szopinski and Piotr Nowicki, Senior Associates Pawel Ura and Maciej Brezden, and Associate Karolina Kosinska.
